Your character is wanted by somebody and has a price on his or her head. 

The importance of the Warrant varies depending on the issuing authority

Private individuals may offer bounties for the capture and return of escaped slaves, runaway indentured servants, straying wives and defaulting debtors.  Such bounties carry legal obligation when endorsed by a local magistrate but most authorities will recognize the right of the bounty hunter who apprehends the fugitive to retain custody of the individual even without a legal endorsement.
Typical bounties are usually small but can go as high as 10 or 15 percent of the value of the debt, slave or runaway.
Having a private Bounty Paper attached to a character is equal to 1 Negative Trait.

Local Authorities
These are the officials and magistrates responsible for the larger towns and cities in the Colonies.  Their writ applies to their local area and is usually honored by other neighboring governments that are friendly or sympathetic to the charges. 
Due to the difficulties of communication it is unlikely that knowledge of the warrant will extend much beyond the immediate neighborhood of the issuing authority. A warrant issued in Boston will be enforced in New York or Philadelphia once the news has been passed on, but it may be some time, if ever, before the information is spread unless the crime or fugitive is particularly notorious.  Neighboring areas under the administration of foreign powers, for example French controlled lands in North America, will rarely enforce a writ from a local authority.
Examples of these writs are ones issued for runaway slaves and indentured servants, horse and stock thieves, debtors, etc.  The reward amounts are usually small, anywhere from about $5 for a runaway servant to a maximum of $100 with most running in the $10 to $50 range.
Having a Local Warrant and Bounty attached to a character is equal to 1 Negative Trait.

A warrant or writ issued by the Governor of an Island, territory or Colony will apply throughout that area.  Notice of such warrants are usually sent to other friendly and allied Governors if it is likely that the fugitive has fled the area, however such distribution can take some time to occur.  Neighboring areas under the control of another country, for example Spanish Colonies and neighboring British Colonies in the Caribbean, are unlikely to enforce the warrant of another countries Governor.  Indeed, depending on the crime they may even shelter the fugitive.
Examples of these writs and warrants are ones issued for murder, piracy, robbery, theft, large debts, etc.  Reward amounts can vary from small, for routine matters, to quite large.  The Governor of Jamaica had a standing bounty of  5s 7p ($28) for any runaway slave.  A bounty of 8s ($40) would be typical for an otherwise unknown pirate (such as one captured in a crew.)  A known and notorious pirate may have the bounty increased to anywhere from 10s to 20s ($50 to $100)  A Captain may well have a bounty going as high as 10£ ($1,000.)
Having a Governor's Warrant and Bounty attached to a character is equal to  1 Negative Trait if the amount is less then $100.  If it is OVER $100 it is equal to  2 Negative Traits.

A warrant or writ issued by the King or Head of State.  These are enforceable, and usually published (eventually) throughout the ruler's possessions.  Foreign powers will honor such warrants if it is diplomatically, militarily or politically expedient to do so.
Examples of such warrants are for charges of Treason, murder (the victim would be very prominent) piracy, theft (of something important,) counterfeiting, etc.  The bounty on a Royal Warrant are usually large, they typically start at 10£ ($1,000) and may go to thousands of £'s.
Having a Royal Warrant and Bounty attached to a character is equal to 3 Negative Traits.

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